I suggest to see if there are any new requirements locally for any compliance issues with rentals too.

I see you changed your profile picture...you are no longer a self-assured tanned boy in shades, but a happy in love success story.  

.- taxes, upkeep, code compliance). 

For a majority of the transactions in the U.S now and in the future I do not see the handholding and assurance component going away. 

The SAFE Act is only the tip of the iceberg.While long time Lonnie Dealers have a great deal to worry about regarding the SAFE Act, they should not ignore the other areas of compliance that goes with lending money.

I never personally got fined but I had to make sure every sign I hung, every piece of mail I sent out, every business card I gave out, basically everything I did, was within compliance of the real estate commission.A final thought.

Especially if you assure them they can still lease from you after the sale (if that's your intention).

To be honest, I would watch out for companies that haven't been around for more than 7 years because many of them close (due to lack of acknowledging new laws, or being sued)...and all clients, most of the time, get transferred to us, since we have employ a rare Level One PCI Compliance (money security).

While that is probably a reflection of management skills, compliance and fair dealing, others may not have the skill set I enjoy, if you have a lack of knowledge in business, real estate or related aspects, then a business entity certainly could come into play for others. 

I would accept whatever rent he offers you, however, he is still not in compliance until the late fee is paid, which still justifies reason to proceed with eviction.